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Elon Musk Wants to Create a New Political Party. Building Rockets May Be Easier

  • On Monday, Musk vowed to unseat Republicans supporting Trump’s bill and threatened to form the America Party immediately after passage.
  • Following Musk's criticism, he called Trump’s bill an 'insane spending bill' and warned it would add $5 trillion to the national debt, prompting Musk to threaten forming the America Party.
  • Analysis shows Musk donated nearly $290 million to Republican campaigns in 2024, and experts say his threats may influence vulnerable House members facing re-election.
  • Following Musk’s threat to form a new party, Trump warned he might withdraw subsidies and consider deportation, escalating their public feud over federal support.
  • Beyond the immediate feud, creating a new party faces high signature requirements and legal challenges across states, complicating Musk’s goal of establishing the 'America Party.
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The dispute between tycoon Elon Musk and President Donald Trump resurfaced after the U.S. Congress passed Tuesday the “Big and Beautiful Bill” that raises tax cuts and a spending package against which Tesla’s CEO has opposed. Prior to the vote, Musk maintained his stance against Trump’s fiscal plan – which he called “completely crazy” and “political suicide” – and promised to create a new rival political party, called the Party of America, if ap…

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Financial Express broke the news in Uttar Pradesh, India on Monday, June 30, 2025.
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